The High Court in Bangladesh has fixed Sunday to deliver its judgment on the writ petition filed by Nobel Laureate Muhammad Yunus,challenging the legality of his removal as Grameen Bank’s Managing Director. The two judge bench of the High Court bench fixed the date after hearing the petition filed by Dr. Yunus on Thursday against the Bangladesh Bank’s order to remove him from the post of the Managing Director of Grameen Bank. In a letter to Grameen Bank, the country’s central Bank said that seventy year old Dr.Yunus cannot continue as the Managing Director of the Bank as he has crossed the retirement age of 60 years stipulated by law. The central bank also asserted that the Grameen Bank board had not sought approval from the Bangladesh Bank for the appointment for Dr Yunus as managing Director in the year 2000. In addition to Dr.Yunus’s petition, nine other Directors of the Grameen Bank Board have also filed writ petitions challenging the Central Bank’s order. Bangladesh’s Finance Minister A.M.A. Muhith, who held a meeting in Dhaka on Thursday with Ambassadors, High Commissioners and Representatives of donor countries and agencies denied the charges that Dr.Yunus was being removed due to political vendetta and said that everything was being done in line with the law of the land.After decades of pioneering work in microfinance which earned him and the Grameen bank a Nobel Prize, Prof Mohammed Yunus is faced with the possibility of an ugly exit from the organization he helped set up. The Bangladesh bank’s letter ordering his removal was the last salvo after efforts by the government to make him retire failed. Trouble started for Prof. Yunus following allegations of malpractices by Grameen Bank in a Norwegian documentary. This was followed by a series of allegations and criticism’s from several quarters in the country which included Bangladesh Prime Minister Sheikh Hasina in addition to three legal cases he faces in court. Despite the Norwegian government giving a clean chit, the Bangladesh government set up an inquiry committee into the operations of the bank. The support for Prof Yunus from the international community has not helped and Dr.Yunus’s fate now depends on the judgment to be delivered by the High Court on Sunday.
News On AIR | March 3, 2011 8:11 PM
Bangladesh to deliver its judgment on Yunus’ petition on March 6